Automated Passenger Counting System Market Set for Strong Growth, Projected to Reach $13.48B by 2028

The automated passenger counting system market size has grown strongly in recent years. It will grow from $8.85 billion in 2023 to $9.72 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to the rising need to optimize the operational costs of transit operators, rising urban density and public transportation usage, rising demand for real-time transit information, rising demand for public transportation, and growing environmental awareness are encouraging modal shifts towards public transportation.

The automated passenger counting system market size is expected to see strong growth in the next few years. It will grow to $13.48 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to the growing technological developments in automated passenger counting systems, growing urbanization, demand for analytics, growing public transit ridership, rising demand for smart telematic solutions. Major trends in the forecast period include technological advancements in automated passenger counting systems, integration of advanced analytics and AI, government support amplifies APC system market potential, integration with IoT, multi-modal integration.

Market Overview -
Automated passenger counting systems refer to electronic devices that accurately record the number of passengers boarding and alighting in transit vehicles. These systems are used to optimize operational costs, provide real-time transit information, and enhance the passenger experience. They help transit operators improve accuracy in reporting patronage data and analyzing transit use patterns.

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Impact Of Public Transportation On The Automated Passenger Counting System Market
The rising public transportation usage is expected to propel the growth of the automated passenger counting system market going forward. Urban public transportation usage refers to the effective and efficient utilization of public transport vehicles and services by the general public. Public transportation usage is on the rise due to increasing traffic congestion, increasing investments in public transportation infrastructure, and rising fuel costs. Automated Passenger Counting Systems (APC) are utilized in urban public transportation to accurately track and monitor passenger numbers, facilitating efficient resource allocation, schedule planning, and service optimization. For instance, in August 2023, according to a report by Seoul Metropolitan Government, a Korea-based local government in Seoul, public transportation was used 9.42 million times on average per day last year, with a 14% (+70,000) increase in daily utilization throughout the day. In 2022, there were 330 million more people using public transportation overall than in 2021, with an average daily increase of 11% (+900,000). Therefore, rising public transportation usage is driving the growth of the automated passenger counting system market.

Competitive Landscape -
Major companies operating in the automated passenger counting system market are Robert Bosch GmbH, Hitachi Ltd., Huawei Technology Co. Ltd., Siemens AG, Cisco Systems Inc., Mitsubishi Electric Corporation, Honeywell International Inc., Thales Group, Hikvision Digital Technology Co. Ltd., Wabtec Corporation, Indra Sistemas S.A., Advantech Co. Ltd., Cubic Corporation, Daktronics Inc., Samsara Networks Inc., Nexcom International Co. Ltd., INIT SE, Teleste Oy, Postec Technology, Cleveron AS, Clever Devices Ltd., Eurotech Holdings Ltd., Iris-GmbH Infrared & Intelligent Sensors, DILAX Intelcom GmbH, HELLA Aglaia Mobile Vision GmbH, Infodev Electronic Design & Information Technologies Ltd., Syncromatics Corporation, Trapeze Group, Euclid Labs, LILEE Systems Ltd.

Development Of High Tech Sensors In The Automated Passenger Counting System Market
Major companies operating in the automated passenger counting system market are developing advanced solutions, such as AI-integrated sensor technologies, to enhance counting accuracy and efficiency. These sensors refer to advanced sensors equipped with artificial intelligence capabilities that accurately detect and count passengers boarding and alighting public transportation vehicles. For instance, in September 2023, iris-GmbH infrared and intelligent sensors, a Germany-based company developing and manufacturing sensor components for automated passenger counting systems, unveiled the IRMA 6 R2 sensor, a new generation of automated passenger counting sensors, in the European region for the first time. The sensor leverages cutting-edge data processing and artificial intelligence algorithms to deliver precise, real-time passenger and object counts. This valuable data empowers operators and transportation authorities to optimize vehicle sizes, routes, and schedules, enhancing operational reliability and passenger satisfaction. The IRMA 6 R2 features a 4-core processing unit for maximum accuracy while also meeting the latest cybersecurity standards and norms.

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Key Segments -
The automated passenger counting system market covered in this report is segmented -
1) By Type: Display Systems, Mobile Applications, Infotainment Systems, Announcements, Other Types
2) By Technology: Video Analytics, Infrared, Light Detection And Ranging (Lidar), Stereoscopic Vision, Time-Of-Flight, Wi-Fi Tracking
3) By Application: Airports, Buses, Ferries And Cruise Ships, Railways, Trams And Metros, Other Applications

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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